OECD’S recipe could help Greece stand out in key areas, says senior economist

Leonidas Stergiou / ekathimerini.com

Greece has broken every record with the speed of its fiscal adjustment and reforms, yet after three memorandums and six years, the competitiveness of its economy continues to lag behind some developing countries, according to Sean Ennis, senior economist at the Organization for Economic Cooperation and Development’s Competition Division. Continue reading “OECD’S recipe could help Greece stand out in key areas, says senior economist”

Shifting landscape in the EU after Brexit vote

Leonidas Stergiou / ekathimerini.com

Who will follow the British in their decision to leave the European Union? And are there likely to be any departures from the eurozone? For Nobel Prize-winning economist Joseph Stiglitz, Italy is the next EU member-state that will be leaving the bloc, while he recommends that Greece and Portugal follow suit. Continue reading “Shifting landscape in the EU after Brexit vote”

Three out of four Greek firms in Bulgaria are ‘ghost companies’

Leonidas Stergiou / ekathimerini.com

Thousands of companies in Bulgaria that exist only on paper appear to have been launched by Greeks in recent years for tax-evasion purposes, as a survey by the University of Bristol has shown that of the 14,000 Greek-owned enterprises in the neighboring country only 3,000 are actually active. Continue reading “Three out of four Greek firms in Bulgaria are ‘ghost companies’”

GREECE: An update of IMF Staff Preliminary Public Debt Sustainability Analysis

“Greece’s public debt has become highly unsustainable. This is due to the easing of policies during the last year, with the recent deterioration in the domestic macroeconomic and financial environment because of the closure of the banking system adding significantly to the adverse dynamics. Continue reading “GREECE: An update of IMF Staff Preliminary Public Debt Sustainability Analysis”